Perpetua Resources Corp. (NASDAQ:PPTA) Given Consensus Rating of “Buy” by Analysts

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $22.25.

PPTA has been the subject of a number of research analyst reports. National Bankshares restated an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, June 18th. B. Riley restated a “buy” rating and set a $17.00 price objective (up previously from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. Royal Bank Of Canada initiated coverage on shares of Perpetua Resources in a report on Friday, July 18th. They set an “outperform” rating and a $23.00 price objective for the company. Finally, HC Wainwright raised their price objective on shares of Perpetua Resources from $27.50 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 15th.

Perpetua Resources Price Performance

PPTA opened at $18.43 on Friday. The company’s 50-day moving average is $16.25 and its 200 day moving average is $13.63. Perpetua Resources has a fifty-two week low of $7.81 and a fifty-two week high of $19.75. The firm has a market capitalization of $1.98 billion and a P/E ratio of -59.45.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.06. On average, equities research analysts expect that Perpetua Resources will post -0.21 earnings per share for the current year.

Insider Transactions at Perpetua Resources

In related news, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the completion of the acquisition, the insider owned 32,347,299 shares of the company’s stock, valued at approximately $426,984,346.80. This represents a 30.58% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Stephen Wright sold 10,000 shares of Perpetua Resources stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $18.31, for a total transaction of $183,100.00. Following the completion of the transaction, the insider owned 14,195 shares of the company’s stock, valued at $259,910.45. The trade was a 41.33% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

Several large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in shares of Perpetua Resources by 4.6% in the second quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company’s stock worth $193,000 after purchasing an additional 697 shares in the last quarter. Corebridge Financial Inc. increased its stake in shares of Perpetua Resources by 7.8% in the first quarter. Corebridge Financial Inc. now owns 20,644 shares of the company’s stock worth $221,000 after purchasing an additional 1,498 shares in the last quarter. AQR Capital Management LLC grew its stake in Perpetua Resources by 12.6% during the first quarter. AQR Capital Management LLC now owns 15,909 shares of the company’s stock valued at $170,000 after acquiring an additional 1,780 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Perpetua Resources by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company’s stock valued at $1,164,000 after acquiring an additional 1,835 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in Perpetua Resources by 24.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,610 shares of the company’s stock valued at $117,000 after acquiring an additional 1,868 shares in the last quarter. Hedge funds and other institutional investors own 70.07% of the company’s stock.

About Perpetua Resources

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.